"Regardless of the specifics of the details, in the abstract, such a scheme is in some sense, possible. How should we consider it?<p>On the one hand, building a huge geothermal power station at Yellowstone would generate a large amount of (potentially cheap) electric power while simultaneously reducing a catastrophic risk. "<p>"On the other hand, in many ways Yellowstone is a particularly bad place to try to build such a plant. The harsh, corrosive conditions in and around the magma chamber would make drilling the wells especially difficult, and its location in the middle of nowhere would require the construction of enormous transmission lines"<p>"In any case, the debate is likely to remain academic for the foreseeable future. Using Yellowstone for geothermal power was made illegal by the Geothermal Steam Act of 1970"<p>So the answer is likely yes, in theory.
But there are lots of other places, where it makes more sense to build geothermal plants. (for energy, but also security, there are lots of other potential super vulcanos that are not as activly monitored like Yellowstone is)